Growth Focus: Mystate Ltd (MYS)

by Patrick Taylor

Date of Data Capture: 26/05/2021


Classification: Banking & Investment Services

Current Price: $4.72

Market Capitalisation: $448 M

Forecast EBITDA Growth: 13.21%

Yield Estimate: 5.36%

Consensus Price Target: $5.35

# Covering Analysts: 2

Discount at Current Price: -13.35%

Price Target Trend (3-Month): Up-Flat +2.88%

Signal Timeframe: Quarterly-Weekly-Daily

Trend Bias: Up-Down / Long-Medium

Short-term: Positive-Neutral
Medium-term: Positive
Long-term: Positive-Neutral

Recommendation: Buy

Focus: (Dividend Income) & Capital Growth

Set up Notes:
  • Niche banking and investing services provider MYS was breaking into all-time highs before the 2020 collapse, but are rallying higher here on improving performance and strong forecasting.
  • From 2018 to 2020, robust margins combined well with steady to strong growth across sales, earnings, and profits – and while these gains slowed last year are set for recovery out to 2023.
  • Pricing surged late-2019 as the stock broke linear resistance and rallied to fresh all-time highs - before being crushed in the Covid panic - but look to be in recovery uptrend here with plenty of resistance targets high above.
Support ($): 4.50, 4.25, 4.00, 3.75 & 3.50.
Resistance ($): 4.75, 5.00, 5.25, 5.50, 6.00 & clear.


This report was produced by Taylor Securities Pty Ltd, which is a Corporate Authorised Representative (Number 414063) of Bespoke Portfolio Pty Ltd (AFSL 341991). Taylor Securities and Patrick Taylor (Representative number 414064) have made every effort to ensure that the information and material contained in this report is accurate and correct and has been obtained from reliable sources. However, no representation is made about the accuracy or completeness of the information and material and it should not be relied upon as a substitute for the exercise of independent judgment. Except to the extent required by law, Taylor Securities and Patrick Taylor does not accept any liability, including negligence, for any loss or damage arising from the use of, or reliance on, the material contained in this report. This report is for information purposes only and is not intended as an offer or solicitation with respect to the sale or purchase of any securities or financial products. The securities or financial products recommended by Taylor Securities and Patrick Taylor carry no guarantee with respect to return of capital or the market value of those securities or financial products. There are general risks associated with any investment in securities or financial products. Investors should be aware that these risks might result in loss of income and capital invested. Neither Taylor Securities and Patrick Taylor nor any of its associates guarantees the repayment of capital. WARNING: This report is intended to provide general financial product advice only. It has been prepared without having regarded to or taking into account any particular investor’s objectives, financial situation and/or needs. Accordingly, no recipients should rely on any recommendation (whether express or implied) contained in this document without obtaining specific advice from their advisers. All investors should therefore consider the appropriateness of the advice, in light of their own objectives, financial situation and/or needs, before acting on the advice. Where applicable, investors should obtain a copy of and consider the product disclosure statement for that product (if any) before making any decision.

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